Good for Bitcoin? the U.S. dollar risks topping out after hitting its Jan. 2003 highs.
Notably, traders anticipate the in July. They also bet Fed won't raise rates beyond 3.3% by this year's end from the current 1.25%-1.5% range.
An early rate cut could happen if the inflation data cools down, thus limiting investors' appetite for the dollar, according to Wall Street analysts As a rule of technical analysis, the double top pattern could resolve when the price breaks below the support and falls by as much as the structure's maximum height, as shown in the chart below.As a result, DXY's double top profit target comes to be near 101.8, down over 3.25% from today's price.
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